Office Building with Private
New
For Sale
$1,250,000
10210 Frankford Ave, Lubbock, TX 79424
Office property includes dedicated network cabling, conference space, and an employee courtyard.
Property Size7,224 SF
Price / SF$173.03
Days on Market3
Property Features for 10210 Frankford Ave
General Information
Standard status
Active
Size
7,224 SF
Amenities
conference room
grand entry foyer with fireplace
private unisex bathrooms
private employee courtyard
Tesla charger
Building Details
Year Built
2017
Listing Agency:
eXp Realty LLC
(806) 654-7828
Listed By:
Jacoby Madewell · License #0637317
Source:
Raftercrossrealty
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 15 at 4:32AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty LLC
Investment Insights
Based on property information with market context.
This 7,224-square-foot office building, constructed in 2017, provides a substantial professional layout with 18 private offices and a dedicated conference room. Each office includes network cabling, supporting connected workplace operations. A large entrance foyer with a fireplace adds a defined arrival area, while three private unisex bathrooms serve occupants and visitors. The property also includes a private courtyard for employee use and a Tesla charger. A new roof is planned for the near future.
Located at 10210 Frankford Ave in Lubbock, Texas, the property combines private work areas, meeting space, employee amenities, and visitor-facing features within one office setting.
Located at 10210 Frankford Ave in Lubbock, Texas, the property combines private work areas, meeting space, employee amenities, and visitor-facing features within one office setting.
Key Highlights
- 7,224‑square‑foot office building constructed in 2017
- 18 private offices with dedicated network cabling
- Conference room and grand entry foyer with fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$94,436
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,888,720
$1.9M
Cap Rate 7%
$1,349,086
$1.3M
Cap Rate 9%
$1,049,289
$1.0M
Market Conditions
NOI Build-Up for 7,224 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$151.7K $21.00/SF
− Vacancy
−$25.8K −$3.57/SF
EGI
$125.9K $17.43/SF
− OpEx
−$31.5K −$4.36/SF
NOI
$94.4K $13.07/SF
Area
Lubbock, TX
Vacancy
17.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,888,720
Cap Rate 7%
$1,349,086
Cap Rate 9%
$1,049,289
Alternative Uses
Best Use
Office B
$1.35M
$1.18M – $1.57M
NOI $94,436 @ 7.0% cap · market cap 7.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,483 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
559
Businesses Nearby
Explore this area
Business Placement
Demographics for 79424, TX
53,479
Population
22,800
Households
2.3
Avg Household Size
38
Median Age
47%
College-Educated
95%
High-School Grad
41.6 sq mi
ZIP Area
1,286
Density / Sq Mi
$94,703
Median Household Income
$52,417
Median Earnings
$1,151
Median Rent
$279,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office property includes dedicated network cabling, conference space, and an employee courtyard.
Where is this office building located?
The property is located at 10210 Frankford Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 7,224‑square‑foot office building constructed in 2017; 18 private offices with dedicated network cabling; Conference room and grand entry foyer with fireplace
